Enerlex Inc

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
0MM
Description

Enerlex Inc. has retained Energy Spectrum Advisors Inc. to sell certain Bakken / Three Forks overriding royalty interest properties located in Mountrail and Burke Counties, North Dakota.

The package includes over 360 producing Bakken and Three Forks wells with a historical twelve month average net cash flow of $121,609. Enerlex well count has increased 60% from January 2011 to August 2012. Top operators include Whiting Oil & Gas, Fidelity Exploration & Production, Oasis Petroleum, Hess, Murex Petroleum and EOG Resources with an average peak monthly IP across all Enerlex interest wells of 556 barrels of oil equivalent (BOE) per day.

Substantial upside exists with additional drilling locations in the Bakken and the Three Forks formations. The properties include an overriding royalty interest in over 240 sections in Mountrail and Burke Counties. In September 2012, there were 34 horizontal rigs running in Mountrail County.

The Virtual Data Room will be available from Sept. 24 through Oct. 19. Closing is expected by noon Central on Oct. 24, 2012. For more information, contact Lindsay Sherrer, 214-987-6109 or lindsay.sherrer@energyspectrum.com.